Bonatra Raises Rs 5.5 Crore From ITI Growth Opportunities Fund

Updated on: 23 November 2022 1:51 am

Total funding for start-ups in Odisha has risen to Rs 359 crore from angel investors and venture capitalists

Hall Of Fame 2.0 Attracts Commitment Of Over Rs 1000 Crore Photo: Total funding for start-ups in Odisha has risen to Rs 359 crore from angel investors and venture capitalists

Medtech start-up Bonatra raised Rs 5.5 crore in a seed funding round led by the ITI Growth Opportunities Fund. The investment round saw the participation of marquee angel investors including Jitendra Jagadev, founder of Nestaway and Helloworld and Rajesh Yabaji, the founder of BlackBuck.

Other investors included Satish Shetty and Anuj Bishnoi, founders of Morning Cart, Ankit Maheshwari, chief financial officer of Cars24, Divyanshu Anand, vice president of Cars24, Ankit Agarwal, vice president-global business of OYO, Shakeeb Anwar, head of Virtusa UK and Sarath Ruthvic, vice president of Brookfield.

Bonatra will utilise this investment round to bolster its product offering and technological infrastructure. Additionally, it plans to hire skilled staff and increase its customer base to be a significant player in the Indian medtech market.

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"We founded Bonatra, intending to enable men to take proactive steps to prevent, manage, and reverse various health conditions. We are pleased with our investors' further validation of our products and business model. The new investment will accelerate our next phase of growth and enable us to strengthen our presence in the market," said Rahul Kishore Singh, chief executive officer and co-founder of Bonatra in a statement.

While addressing their decision to put the money in Bonatra, Mohit Gulati, managing partner of ITI Growth Opportunities said, "What sets Bonatra apart is their approach towards managing chronic diseases. It's a unique mix of medical science, data science, and technology to offer a solution that can positively impact the end consumer. The brand is positioned for incredible future growth and has the potential to become a category leader. We are excited to be a part of their growth story."

Founded by Rahul Kishore Sing, Manjari Chandra, Ramanpreet Singh and Amit Acharya, Bonatra is an start-up that treats diseases including diabetes, thyroid, BP, sexual health issues, fatty liver and weight issues by partnering with doctors across India. Currently, the medtech firm works with 400 doctors and seeks to increase the number to 1000 in the coming future.